35 views 44 sec 0 Comment

Beware Crazy Clauses In Condo Contracts

/ Owner - November 29, 2014

It’s a seller’s market for new condos in cities like San Francisco, Miami, and New York. If, for example, a buyer in a recently erected New York building unloads his condo for a profit within a year of purchase, a new standard line in contracts states that the condo owner must hand the developer half of his windfall. Meanwhile, buyers in Florida are putting down deposits of as much as 50% on condos, which developers can draw down to 10% to help pay for their construction costs      Read more………

Comments are closed.